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1.
Losing a considerable lead in a footrace as a result of being slower than an opponent.

Commonly seen in football when a slower back breaks into the open for an apparent touchdown, only to be caught up to and tackled by a speedier defensive back. Also seen in later legs of track relays.
"I can't BELIEVE you just got walked; you had a 20 yard head start! You're so slow!"
by reggiew July 11, 2008
 
2.
Walked is when someone beats a case in court and is aquitted or the charges are dropped.
John Gotti,despite being dragged into court many times by prosecutors, walked on most of his cases..
by Kenny B.. May 23, 2010